A’Saffa Foods, Oman’s largest fully integrated poultry and processed food producer, has signed a OR31.5 million ($81.8 million) loan with Bank Muscat to finance its expansion plans.The company said in a statement that the expansion project will double the production capacity of A’Saffa Foods from the current capacity of 20 million birds per annum to 40 million birds per annum.It will comprise the addition of 10 farms with 90 poultry houses, in addition to a hatchery, feed mill, processing plant, and other utilities, the statement added.Sheikh Rashid Saif Mohammed Al Saadi, chairman of A’Saffa, said: “In keeping with the Government’s vision of enhancing food security and economic diversification – we are pleased to join hands for the long-term financing of the expansion project, which will make a significant contribution to Oman’s food sufficiency.”With an annual production capacity of 40,000 tonnes of chicken meat per annum, the project will have a far-reaching impact on meeting the growing demand of A’Saffa products in the sultanate and beyond and will also help in the generation of employment opportunities.”He added: “Given our robust expansion plans, we will continue to focus on production and operational excellence, brand variation and overall growth and development.”Rafique Chaudhary, the company’s CFO, said the expansion project would have a total outlay of OR45 million.
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